Jamal earns $160,000 per year and Josephina earns $80,000 per year. If Jamal pays $16,000 in income taxes and Josephina pays $8,000 in income taxes, the income tax system would be
A) regressive.
B) progressive.
C) proportional.
D) marginal.
C
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________ is concerned with the distribution of resources across society
A) Social surplus B) Equity C) Efficiency D) Utility
Which of the following is not a basic monetary policy tool used by the Fed?
A. The discount rate. B. The reserve requirement. C. Taxes. D. Open-market operations.
The interest rate that equates the price of a bond with the present value of its payments:
A. should always be greater than the coupon rate. B. should be the one that makes the value equal to the par value of the bond. C. will vary inversely with the value of the bond. D. will vary directly with the value of the bond.
In 2005, China increased the price of its currency while continuing to pursue a fixed exchange rate. This change in policy is called
A) an appreciation. B) a depreciation. C) a peg. D) a devaluation. E) a revaluation.